In a clear example of having more money than sense, someone desperate to get their hands on the in-demand gold iPhone 5S has willingly paid over $10,000 to acquire an unlocked version of the handset.

Apple underestimated the demand for the gold version of its latest smartphone at launch and the model became unavailable almost immediately. More will be produced, and Apple will have upped the quantities being manufactured in order to deal with demand in future, but some people just can’t stand waiting it seems.

Inevitably, this shortfall in supply has been seen as an opportunity by some lucky enough to have purchased a gold handset. Sure enough, an unlocked 16GB gold iPhone 5S appeared on eBay soon after the new smartphone launched on Friday. It sells for $649 normally, which is expensive anyway, but the bids soon started racking up on eBay. By the time the auction ended on September 23, 51 bids had been recorded and the winning price was a quite staggering $10,100.

The seller is known as papakar on eBay and has 100% positive feedback and a score of 1,278. The bidding history shows the price slowly escalating to $2,500 before it suddenly jumps to $10,000. The winner only just managed to secure his very expensive iPhone by bidding that extra $100.

Is winner happy with his/her purchase? Probably. But surely they are going to feel a bit silly in a few weeks when they start seeing the 10k gold iPhone 5S they have in their pocket readily available for $650.